Tax resolution attorney Jeffrey T. Jones, founder of the Law Offices of Jeffrey T. Jones, and best-selling author of “Protect and Defend” provides an overview of proposed changes to the IRS regulations for reporting higher education tuition and expenses.
Charleston, WV, August 25, 2016: Tax resolution specialist attorney Jeffrey T. Jones, founder of the Law Offices of Jeffrey T. Jones, and best-selling author of “Protect and Defend” has posted a new article on his website entitled “New Rules Proposed for Reporting Higher Education Tuition and Expenses.” According to Mr. Jones, the proposed changes will affect both the educational institutions and individual taxpayers.
Jones writes, “Are you thinking about going back to school to get your MBA or to help facilitate a career change? Maybe you’re sending your kid off to college this year.” He continues adding, “Those higher education tuition costs and related expenses may be eligible for a nice tax deduction. However, in order to claim the deduction, there may be a new set of rules that could that must be followed to the “T”, should they get passed. The proposals are being voted on this November 30th. So next year when it’s time to file your 2016 taxes, be sure to ask your accountant or tax preparer if the new rules were passed.”
According to Jones, “the proposals conform with changes made to the Tax Code by the Protecting Americans from Tax Hikes Act of 2015, also known as the PATH Act.”
After providing a summary detailing the requisite forms and regulations in the most legal of fashions, Jones concludes saying, “There are really just two things to remember. 1. Your Taxpayer Identification Number as well as the TIN of whoever is claiming the tax credit must have been issued before the tax filing deadline, and 2. Those TINs as well as the EIN of the educational institution must be on the requisite form. In other words, you simply have to do your homework on time and make sure it’s complete.”
The entire article can be read at http://www.jeffreytjones.com/new-rules-proposed-for-reporting-higher-education-tuition-and-expenses/
About Jeffrey T. Jones
Jeffrey T. Jones has more than 25 years of experience and served as the former President of the West Virginia Association for Justice and is a Personal Injury, Wrongful Death and IRS Tax Attorney in Charleston, West Virginia. In his work, he helps individuals and businesses resolve their IRS tax problems. He is the author of the bestselling book “Protect and Defend.” He has also written Special Reports dealing with business payroll taxes and ways to solve your IRS problems.
About the Law Offices of Jeffrey T. Jones
For quality, dependable legal representation, clients throughout West Virginia rely on the Law Offices of Jeffrey T. Jones, PLLC in Charleston, West Virginia. Our office serves clients from Charleston to Huntington, from Beckley to Princeton and as far as Clarksburg. We take a personal interest in each client’s case and if they have a question or concern they know they can call and personally speak with an attorney. Personal service is what we offer to all of our clients.